{"id":422,"date":"2018-02-19T16:49:07","date_gmt":"2018-02-19T16:49:07","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\/"},"modified":"2018-02-19T16:49:07","modified_gmt":"2018-02-19T16:49:07","slug":"social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\/","title":{"rendered":"Social Democrats call for government to block sale of mortgages to vulture funds"},"content":{"rendered":"<p>The Social Democrats have called on the Minister for Finance to intervene to block the sale of Permanent TSB mortgages to unregulated vulture funds.<\/p>\n<p>The party\u2019s co-leader Catherine Murphy TD said:<\/p>\n<p>\u201cThis bank is 75 per cent owned\u00a0by the\u00a0State and the Minister for Finance must do what he can to protect homeowners by halting the sale of its loan book to unregulated and largely unaccountable private equity or hedge funds.<\/p>\n<p>\u201cIt is wrong and unacceptable for the State as a major bank shareholder to stand by while Permanent TSB effectively outsources repossessions of people\u2019s homes. There is clearly a moral obligation to step in and prevent the sale of these 20,000 mortgages.<\/p>\n<p>Deputy Murphy added:<\/p>\n<p>\u201cThe devastating impact on families of having their mortgages hived off to overseas funds cannot be underestimated. If emergency legislation is needed to fix this problem, then the Minister should bring this before the D\u00e1il without delay. In the meantime, the funds should be instructed to give mortgage-holders the right to buy their loans for the same price that is being offered to the vulture funds.<\/p>\n<p>\u201cThe official pandering of government to private funds runs against the interests of ordinary borrowers. Families stand to lose their homes as a result of this move and yet the government is allowing vulture funds to continue to maximise their take on rent and also get preferential treatment under our tax laws. The overly-generous tax treatment of these funds is an issue that I will be raising this week at the Public Accounts Committee.\u201d<\/p>\n<p>ENDS<\/p>\n<p>19 February 2018<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Social Democrats have called on the Minister for Finance to intervene to block the sale of Permanent TSB mortgages to unregulated vulture funds. The party\u2019s co-leader Catherine Murphy TD said: \u201cThis bank is 75 per cent owned\u00a0by the\u00a0State and the Minister for Finance must do what he can to protect homeowners by halting the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[182,8,7],"tags":[145,294,76,17],"class_list":["post-422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-catherine-murphy","category-latest-news","category-press-release","tag-catherine-murphy-td","tag-permanent-tsb","tag-public-accounts-committee","tag-social-democrats"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Social Democrats call for government to block sale of mortgages to vulture funds - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social Democrats call for government to block sale of mortgages to vulture funds - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"The Social Democrats have called on the Minister for Finance to intervene to block the sale of Permanent TSB mortgages to unregulated vulture funds. The party\u2019s co-leader Catherine Murphy TD said: \u201cThis bank is 75 per cent owned\u00a0by the\u00a0State and the Minister for Finance must do what he can to protect homeowners by halting the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.socialdemocrats.ie\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\/\" \/>\n<meta property=\"og:site_name\" content=\"Social Democrats\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/socialdemocratsireland\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-19T16:49:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.socialdemocrats.ie\/wp-content\/uploads\/2023\/09\/CatherineStreetscene-e1496324607877.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"ZOO Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SocDems\" \/>\n<meta name=\"twitter:site\" content=\"@SocDems\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ZOO Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/\"},\"author\":{\"name\":\"ZOO Admin\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#\\\/schema\\\/person\\\/4aa25e1b0ecfe5e51a2ceab9a9006960\"},\"headline\":\"Social Democrats call for government to block sale of mortgages to vulture funds\",\"datePublished\":\"2018-02-19T16:49:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/\"},\"wordCount\":273,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/CatherineStreetscene-e1496324607877.jpg\",\"keywords\":[\"Catherine Murphy TD\",\"Permanent TSB\",\"Public Accounts Committee\",\"Social Democrats\"],\"articleSection\":[\"Catherine Murphy\",\"Latest News\",\"Press Release\"],\"inLanguage\":\"ga-IE\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/\",\"url\":\"https:\\\/\\\/www.socialdemocrats.ie\\\/social-democrats-call-for-government-to-block-sale-of-mortgages-to-vulture-funds\\\/\",\"name\":\"Social Democrats call for government to block sale of mortgages to vulture funds - 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